After the Public Utilities Commission of Ohio approved its Staff's recommendation for a "distribution modernization rider," or DMR, for FirstEnergy, Jefferies analyst Anthony Crowdell estimates the rider R will provide approximately $205M a year for three years, factoring in taxes, with the ability to add a two year extension, which he said was in-line with his expectations. The firm has a Hold rating and $36 price target on FirstEnergy shares.

10/13/16

LEHM

10/13/16UPGRADETarget $37LEHMOverweight

FirstEnergy upgraded to Overweight from Equal Weight at Barclays

Barclays analyst Gregg Orrill upgraded FirstEnergy to Overweight saying the Ohio Public Utility Commission granted the company $203M in rate relief for three years, which is better than his expectations. He raised his price target for the shares to $37 from $36.

10/18/16

EVER

10/18/16UPGRADEEVERBuy

FirstEnergy upgraded to Buy from Hold at Evercore ISI

10/18/16

SBSH

10/18/16UPGRADETarget $31SBSHNeutral

FirstEnergy upgraded to Neutral from Sell at Citi

Citi analyst Praful Mehta upgraded FirstEnergy to Neutral saying the $291M rate increase settlement in Pennsylvania helps limit the downside. The analyst believes the risks are now better reflected in the shares. He upped his price target for FirstEnergy to $31 from $29.

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